[cashadv]

After reading through the forums a lot and being signed up through a few different funders for the past two years I was considering signing up with Pearl once I read about the sale. I use 2 banks for my A/B paper, 2 for C/D and 1 for starters.
The Pearl sale is one of the most read threads on this site!!!wow!!!
The same way funders do background checks on their ISO's, I am a believer in the ISO doing their due diligence on a funder as well. A lot of which can be picked up on a site like this. From what I have read Pearl was acquired by Capital Z.
Sol Lax is operating as the CEO of Pearl Capital. Has anyone heard of him working at any other cash advance companies?
There were some rumors on here regarding Pearl operating under different names such as Horizon Business Funding and East Capital.
It's not a secret that other banks have in house sales offices as well. For example MCC has NLF.
It's unfortunately more and more common for funders to "shop" submissions from ISO's after a week, two weeks, 30 days according to the fine print in some ISO agreements or even without it. Sometimes they shop it out under other names and sometimes they try to fund in house with a lower factor rate because they are not paying a commission. That is the main reason I only work with 5 funders and do my diligence before signing up with new funders. I spoke to a few other funders/ISO's, some of whom I work with, who have reps that work for them that used to work at Pearl or have submitted deals to Pearl and a week later it was funded not by the ISO it was submitted by. Yes I know more than not merchants are working with multiple ISO's but I have heard the same story from multiple people regarding Pearl. Below is a list of names of companies that funded these merchants. If you call around those numbers (accidentally) a rep has answered the phone "Horizon Funding" or "Pearl Capital".


Pearl Capital
Horizon Business Funding
East Capital
Merchant Bridge
Black Rock Merchant Advance
Forward Line Funds

Has anyone else here had this experience? This is not meant to be a bashing post, it is meant to see if anyone else has seen this trend.

[funding pro]

Not to deviate too far from your original post, but there are no major direct funding companies that do not have a direct sales channel. They all do.

[Sean Cash]

Not to deviate too far from your original post, but there are no major direct funding companies that do not have a direct sales channel. They all do.

Some truly do not.

[funding pro]

Going back to your original point, there are ups and downs to working with all players in this space. Maybe I am more naive than some, but I have worked with mostly all funding companies in the space in some capacity and believe that even those that get a bad reputation but are doing any significant volume (Pearl for one) are not stealing deals or funding them directly. After all, the majority of merchants they probably see have already been funded somewhere or have enough issues that they are "shopping." I believe they are trying to transition into a more premium space, a task which is very difficult to do through your ISO channel alone. I dont work with them tremendously but I believe they will have a very difficult time doing this if they are only relying on folks like myself who have brought them my "last resort" paper over the years to start bringing them my A or B paper.

[Jared_Weitz]

After reading through the forums a lot and being signed up through a few different funders for the past two years I was considering signing up with Pearl once I read about the sale. I use 2 banks for my A/B paper, 2 for C/D and 1 for starters.
The Pearl sale is one of the most read threads on this site!!!wow!!!
The same way funders do background checks on their ISO's, I am a believer in the ISO doing their due diligence on a funder as well. A lot of which can be picked up on a site like this. From what I have read Pearl was acquired by Capital Z.
Sol Lax is operating as the CEO of Pearl Capital. Has anyone heard of him working at any other cash advance companies?
There were some rumors on here regarding Pearl operating under different names such as Horizon Business Funding and East Capital.
It's not a secret that other banks have in house sales offices as well. For example MCC has NLF.
It's unfortunately more and more common for funders to "shop" submissions from ISO's after a week, two weeks, 30 days according to the fine print in some ISO agreements or even without it. Sometimes they shop it out under other names and sometimes they try to fund in house with a lower factor rate because they are not paying a commission. That is the main reason I only work with 5 funders and do my diligence before signing up with new funders. I spoke to a few other funders/ISO's, some of whom I work with, who have reps that work for them that used to work at Pearl or have submitted deals to Pearl and a week later it was funded not by the ISO it was submitted by. Yes I know more than not merchants are working with multiple ISO's but I have heard the same story from multiple people regarding Pearl. Below is a list of names of companies that funded these merchants. If you call around those numbers (accidentally) a rep has answered the phone "Horizon Funding" or "Pearl Capital".


Pearl Capital
Horizon Business Funding
East Capital
Merchant Bridge
Black Rock Merchant Advance
Forward Line Funds

Has anyone else here had this experience? This is not meant to be a bashing post, it is meant to see if anyone else has seen this trend.

Sol seems to be a good guy so far from my experiences. Big finance background, very logical. I'm eager to see how things shake out there over the next few months.

[Sean Cash]

Sol seems to be a good guy so far from my experiences. Big finance background, very logical. I'm eager to see how things shake out there over the next few months.

Pearl also seems to be recruiting some reputable industry vets who will probably have a positive influence on the culture there. Ditto on being eager to see how things shake out.

[skideeppow]

Pearl is an honest company. I have been working with those guys for years. They have always been honest and forthcoming with me.

[isaacdstern]

I am a huge fan of David Korchak who is on the executive team over there, best of luck to the New Pearl!

[bizloanbroker]

I have no idea how new management is running the place...but the old management team ran it with Coke, Booze and hookers (not a joke). Ask any who ever worked there and they will confirm.

I certainly hope the new management team has some serious changes in mind if the "New Pearl" is going to be a real player in this ever changing game

[isaacdstern]

geese bro, a little tact please??

[Zach]

Quickbridge does not have a direct sales channel -- I'm sure there are others as well.

Not everyone is trying to backdoor your deals...

[ceo]

i'd wager that saturn funding will be used as an in house funder for pearl in the near future. sign up today!

http://nvsos.gov/sosentitysearch/Cor...53d%253d&nt7=0

[ceo]

nevada has its tax benefits and having a wyoming jurisdiction certainty has its value of being able to hide corporate owners better than other states.
Looks like Pearl has changed its name as well
File Number: 5671339 Incorporation Date / Formation Date: 01/08/2015
(mm/dd/yyyy)
Entity Name: PEARL CAPITAL BUSINESS FUNDING, LLC
Entity Kind: LIMITED LIABILITY COMPANY (LLC) Entity Type: GENERAL
Residency: DOMESTIC State: DE
REGISTERED AGENT INFORMATION
Name: CORPORATION SERVICE COMPANY
Address: 2711 CENTERVILLE RD SUITE 400
City: WILMINGTON County: NEW CASTLE
State: DE Postal Code: 19808
Phone: (302)636-5401

[Achfund]

The michael Jordan / Phil jackson management days of pearl are over. The starting lineup mgmt post sale is more like a all star game between the 2015 Knicks and 76ers. They do have good underwriters though. And yeah I'll agree with Isaac that Korchak is a good guy.

[JSL23]

I have no idea how new management is running the place...but the old management team ran it with Coke, Booze and hookers (not a joke). Ask any who ever worked there and they will confirm.

I certainly hope the new management team has some serious changes in mind if the "New Pearl" is going to be a real player in this ever changing game

Damn!! I feel like I missed out...coke, booze AND hookers....wish I worked at Pearl

[admin]

Please recall that the forum is not a venue to bash companies or people.

[Sean Cash]

nevada has its tax benefits and having a wyoming jurisdiction certainty has its value of being able to hide corporate owners better than other states.
Looks like Pearl has changed its name as well
File Number: 5671339 Incorporation Date / Formation Date: 01/08/2015
(mm/dd/yyyy)
Entity Name: PEARL CAPITAL BUSINESS FUNDING, LLC
Entity Kind: LIMITED LIABILITY COMPANY (LLC) Entity Type: GENERAL
Residency: DOMESTIC State: DE
REGISTERED AGENT INFORMATION
Name: CORPORATION SERVICE COMPANY
Address: 2711 CENTERVILLE RD SUITE 400
City: WILMINGTON County: NEW CASTLE
State: DE Postal Code: 19808
Phone: (302)636-5401

It's not weird for a company to reincorporate especially after an ownership change. I don't know where the Nevada and Wyoming reference comes from but this shows Delaware which is where everyone organizes and incorporates. This is just a hater thread.

[ADiamond]

There were some rumors on here regarding Pearl operating under different names such as Horizon Business Funding and East Capital.

This is not a rumor, it's a fact that pearl funds under the following legal entities:

East Capital
Horizon
Forward Line

It's so obvious, look at the patterns when you look at statements. After every company name on the statement is Fxd-D1, for all these entities.

Pattern? Yes. Fact? Yes. Coincidence? I think not

Not bashing any company, or degrading anyone - I am giving you guys useful information.

Merchant had foward line in her statements as first position pulling 425/day for 20k. would the real forward line do that? When I asked if she could handle those payments she said "Yes, Pearl said they'd give me a better payment on the second funding"

[bizloanbroker]

Abe and Meir being compared to Michael Jordan and Phil Jackson may be the absolutely most insane post I have seen on this forum to date

The michael Jordan / Phil jackson management days of pearl are over. The starting lineup mgmt post sale is more like a all star game between the 2015 Knicks and 76ers. They do have good underwriters though. And yeah I'll agree with Isaac that Korchak is a good guy.

[Chambo]

Abe and Meir being compared to Michael Jordan and Phil Jackson may be the absolutely most insane post I have seen on this forum to date

heh heh heh heh.....that is a funny comment

God Bless those two

[mcaguru]

heh heh heh heh.....that is a funny comment

God Bless those two

Amen!!!